Exchange Traded Concepts LLC Grows Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Exchange Traded Concepts LLC grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,028.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,706 shares of the company's stock after purchasing an additional 10,203 shares during the period. Exchange Traded Concepts LLC's holdings in Inspire Medical Systems were worth $1,705,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INSP. First Horizon Advisors Inc. boosted its stake in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Huntington National Bank boosted its stake in shares of Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after purchasing an additional 121 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 55 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the sale, the director now directly owns 24,046 shares in the company, valued at approximately $3,847,360. The trade was a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded up $2.70 during midday trading on Wednesday, hitting $129.95. The company's stock had a trading volume of 590,834 shares, compared to its average volume of 568,227. The business's fifty day simple moving average is $146.73 and its two-hundred day simple moving average is $168.79. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $225.00. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 59.88, a price-to-earnings-growth ratio of 1.98 and a beta of 1.29.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. During the same quarter last year, the firm posted ($0.34) earnings per share. The business's revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INSP. Royal Bank Of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, KeyCorp reduced their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Inspire Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

About Inspire Medical Systems

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.